Ok first let me start off , I understand I am blessed , I am also not whining - I bring this up only to make a point out what I think is one of the major problems plaguing the American worker nowadays.
My employer does not give annual pay increases. Instead my employer give bonuses based on performance of the company. I personally think this is a good thing. This provides me incentive to ensure my employer does well in a given year and he rewards me for helping him achieve his goal, He wins = I win.
Well this year we did marginally well (tough year all the way round) , However my employer still decided we worked very hard and wanted to still reward us though company performance was not steller.
He provided me with a bonus of a little over 1,200.00 (this is where I understand I am blessed, there are those who work very hard each year in America and receive nothing. )
Ok now my rant - out of the 1,200.00 My employer generously gave me I received 700.00.
Where did the rest go , You guessed it TAXES. over 500.00 and some change was deducted
for all sorts of various taxes. What is wrong with this picture?
And Guess what next Tax year I get to claim this additional 700.00 I received on my tax form only again to have it taxed one more time. and if I put the money in the bank and make any interest off it , Guess what I have to claim that as well so it also can be taxed.
Is it me or is there something wrong with this picture ? how many times will the same monies be taxed until it becomes vapor?
Above all else , I believe the oppressive tax code is what is wrong with America and what affects the U.S worker the most. Thanks for letting me share and rant. I will shut up now and once again be blessed at least I received some additional dollars at a time when so many are losing their Jobs , or having hours cut , or did not receive anything. I just wanted to make a point about how infuriated I am with our tax system.
